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PROSPECTUS 



OF THE 



a Coat Cflntpttg 





Incorporated September 21st, 1871, under the 
Laws of the State of Calif ornia ; for the pur¬ 
pose of Coal Mining , and Trading in 
the Territory of Alaska, and 
Transporting Coal 

to Market, and, Selling the same at wholesale 

and retail. 




Capital Stock, 


$ 5 , 000 , 000 . 




OFFICE, ROOM 63, 


Merchant’s Exchange, California Street, 


SAN FRA A CISCO, Cal, 

> 


jS an j 17 f v ancisco: 

WOMEN’S CO-OPERATIVE PRINTING UNION, 424 MONTGOMERY ST. 


1871. 
































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PROSPECTUS 


OP THE 

/ 


hustut <$0»l C^oiujiitug. 


Incorporated September 21st, 1871, under the 
Laws of the State of Calif ornia; for the pur- 
pose of Coal Mining , and Trading in 
the Territory of Alaska, and 
Transporting Coal 

to Market, and Selling the same at wholesale 

and retail. 

-< i i ^ ii ►- 

Capital Stock, - - - $5,000,000. 


OFFICE, ROOM 63, 

* 

Merchant’s Exchange, California Street, 

SAN FRANCISCO, Cal. 



jSAN FRANCISCO : 

WOMEN’S CO-OPERATIVE PRINTING UNION, 424 MONTGOMERY ST. 


1871. 










o.m. 

OFFICERS. 



N 805 

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3 


PRESIDENT, 

W. A. ALDRICH. 

VICE PRESIDENT, 

WM. H. TAYLOR, 

TREASURER, 

WM. H. SEARS. 

DIRECTORS, 

BENJ. M. HARTSHORNE, WM. H. SEARS, 

W. A. ALDRICH, B. H. RAMSDELL, 

WM. H. TAYLOR, JOEL CLAYTON, 

chas. e. McDermott, marks zellerbach, 

JAMES T. HOYT. 


SECRETARY. 

JAMES T. HOYT, 


OFFICE, room: 

63 Merchant’s Exchange California St- 


SAN FRANCISCO. 





PROSPECTUS. 

When Alaska was acquired by the United States, the 
people of the Pacific Coast, and especially of San 
Francisco, hailed the acquisition with great satisfac¬ 
tion, as specially advantageous to our commercial in¬ 
terests. They had none of those misgivings respecting 
tl|p value of the purchase which were, to a certain ex¬ 
tent, entertained by political economists East of the 
Rocky Mountains. 

Its known wealth of furs, fisheries,* coal and timber, 
and supposed extensive mineral resources, presented an 
inviting field for the enterprise of our citizens. Afield 
which only required development to insure abund¬ 
ant and profitable returns. 

The explorations made in that country since its 
transfer to the jurisdiction of the United States, al¬ 
though comparatively meagre, have demonstrated its 
great value, and proved its capacity to more than realize 
the expectations of the Pacific public. 

The fur trade is a source of large and constantly in¬ 
creasing public and private revenue. 

The fisheries, especially cod and salmon, engage quite 
a fleet of vessels from this port, and as they are practi¬ 
cally inexhaustible, they will, at no distant day, be¬ 
come an important element in our commerce. 









I 


4 



The coal interests which are really of as great, if not 
greater prospective value than the furs or fisheries, 
have not yet received the attention they deserve, al¬ 
though they have not been overlooked by the govern¬ 
ment. 

The Commissioner of the General Land Office, in his 
report, made from information communicated to his 
department by government Engineers and scientists, 
uses the following language respecting the 

ALASKA COAL FIELDS. 

“ Prominent among the mineral deposits of Alaska 
“are extensive beds of coal of excellent quaility, gen- 
“ erally bituminous, but often of the purest anthracite. 
“ These beds are formed in many of the islands, a#d 
“ near the sea-coast on the main land, in close prox- 
“ imity to excellent harbors, thus promising our com. 
“ merce convenient and inexhaustible coaling deposits 
“in the North Pacific, an advantage which is magnified 
“ in view of the unequalled fisheries and the impor- 
“ tance of the fur trade of that great region. Consider- 
u ing the ease with which the coal will be conveyed 
“ from the mines to the harbors on the coast, it is 
“ probable that they will soon become an important 
“article of export.” 


•THE ALASKA COAL COMPANY. 

The coal deposits possessed by this Company have 
all the advantages of accessibility and natural facili¬ 
ties for shipment referred to by the Honorable Com¬ 
missioner, to a greater extent than other coal mines 
discovered on the Pacific Coast. 



5 


SITUATION OF THE 


COAL MINES. 


They are situated on an island contiguous to the 
main land of the Alaska Peninsula, in latitude 55° 24'. 
Ihe coal veins are exposed in the face of a precipitous 
bluff six hundred and eighty feet in height, immediate¬ 
ly on the shore of Coal Harbor. 


COAL HARBOR. 

This harbor is entirely land-locked, easy of entrance, 
and perfectly safe at all times ; it bears from 12 to 21 
fathoms of water in the channel, and 5 fathoms within 
250 feet of the shore, at low tide. There is sufficient 
depth for the largest vessels within 300 feet of the 
beach. 


COAL VEINS. 

The reports of the mining Engineers and Experts, 
sent by the Company to examine the mine, show that 
there are four principal veins of coal. 

The first is situated twenty feet above high-water 
mark, and is five feet in thickness. 

The second is thirteen feet above the first, and six 
feet in thickness. 

The third is two hundred and forty feet above the 
second, and four and one-half feet in thickness. 

The fourth is four feet above the third, separated by 
a bed of clay, and is three hundred and eighty feet 
above high-water mark. This is a splendid, well de¬ 
fined vein, nine feet in thickness. The veins lie paral¬ 
lel, one above the other, and dip into the mountain 
with an inclination of about two inches to the yard. 





6 


The farthest vein is only 800 feet from the point of 
shipment in the harbor ; a tramway of that length, and 
three hundred feet ol wharf, will be all that will be 
required for the delivery of coal on shipboard from the 
mine, consequently the outlay necessary for the econ¬ 
omical handling and shipment of the coal will be com¬ 
paratively small. 



The natural advantages possessed by these mines are 
unequalled ; for, in addition to their situation on the 
shore of an excellent harbor, they can be worked by 
drifts in the face of the bluff, and drained through the 
tunnels, thus saving the great expense of hoisting the 
coal through shafts and the constant expenditure for 
pumping. 



Although the distance of these mines from San 
Francisco is somewhat greater than to the coal mines 
in Puget Sound and on Vancouver Island, ' it is be¬ 
lieved that vessels can make as many round tripsin the 
year to Coal Harbor as to Puget Sound; as for three 
fourths of the year, they will carry a fair wind direct 
from Coal Harbor to San Francisco. Coal Harbor is 
easily accessible at all times. The difference in dis¬ 
tance is more than balanced by the delays which ves¬ 
sels trading with Puget Sound encounter from the Fogs, 
adverse winds, and currents of the Straits of Fuca. 

The fact that vessels can be chartered in this port 
to bring coals to San Francisco from Coal Harbor, at 




7 


the same price per ton as from Puget Sound, places 
our mines on the same footing with respect to thn cost 
of transportation to market as the mines of Washing¬ 
ton Territory and British Columbia. 


EXTENT OF THE DEPOSIT. 

The extent of the deposit is very great. The veins 
crop out and are distinctly traced on the lands pos¬ 
sessed by the Company, for a distance of four miles 
along the shore of the harbor ; they preserve a uniform 
thickness and are well defined. The indications are, 
that the deposit underlies the whole Northern portion 
of the island ; at all events, to use the language of one 
of the Experts of the Company, who spent several days 
on the ground, carefully examining the veins, “ there 
are millions of tons in sight.” In many places on the 
shore there are tons of excellent coal that have fallen 
from the veins in the overhanging cliffs. Since the 
explorations were made by the Experts of the Company, 
in April last, letters have been received from the 
Company’s Agent on the ground, that he has discovered 
other veins of equal richness—one nearly at the water’s 
edge on the shore of the harbor, from which fifty tons 
were taken to coal fishing vessels that dropped in there 
for fuel. 


QUALITY OF THE COAL 

The coal is semi-bituminous, resembling Cannel Coal 
in appearance and fracture. It is a bright, clean coal, 
entirely free from slate, 11 bone” or sulphur. It burns 
with a long clear flame, without smoke or soot, and 
leaves a very small per cent of ash. For domestic pur- 





8 


poses, parlor grates, cooking ranges and stoves, it is 
superior to any other coal found on the Pacific Coast. 
Its remarkable cleanliness and purity make it especi¬ 
ally valuable to the housekeeper. 

It is confidently expected that this coal, owing to its 
cheapness and superiority, will be in great demand for 
domestic uses. Although it burns freely, with a strong 
heat, it lasts well, and is an economical coal in that 
respect. There is no waste, as every particle is con¬ 
sumed. 


AS A STEAM COAL. 

For steam and other purposes the coal is equally 
valuable. 

Several tons of the coal were brought to this City, 
and, for the past three months, practical tests have been 
made to determine its value for various purposes. 

Although the coal used in these experiments was 
mostly taken from and near the suface, none of it being 
more than sixteen feet under cover, and none beyond 
the influence of the atmosphere and surface-water, it 
has proved to be equal to coals found in other mines 
at considerable depths, and entirely superior to any 
other coal found so near the surface. Judging from 
this it is fair to suppose that when the veins have been 
opened to a reasonable depth, the quality of the coal 
will increase in the usual proportion; in which case it 
will not be surpassed by the best imported coals. 


TESTS. 

The coal has been tested at the Golden Gate Mills, 
the Pacific Rolling Mills, and by various well-known 
citizens, who used it in parlor grates and ranges. It 


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has also been analyzed by competent assayers of this 
city. The results have been highly satisfactory, as the 
following testimonials will show: 


Letter of Horace Davis, Esquire, Proprietor of the Golden 
Gate Mills in this city, to W. H. Sears, Esq., one of the Direc¬ 
tors of this Company, respecting the test made at his mills: 

San Francisco, July 29th, 1871. 

Wm. H. Sears, Esq .—Dear Sir: I tried the samples of 
Alaska Coal sent to the Golden Gate Mills by you, for the 
purpose of testing its qualities as a steam coal. 

I ran the mills with the coal three hours and fifty minutes, 
consuming 4,310 pounds of coal. 

The amount of flour made was 80} barrels. 

The power of our engine is 185 horse-power, carrying five 
run of stones. 

The coal burned with a clear strong flame, keeping steam 
steadily at 90 lbs pressure, with no perceptible smoke coming from 
the stack . 

It apparently has no sulphur, and leaves no slag or cinders. 

The samples tried by me were evidently croppings, or 
taken from very near the surface. 

Bespectfully yours, etc., 

HOBACE DAVIS. 


I witnessed the test of the Alaska Coal at the Golden Gate 
Mills, referred to by Mr. Horace Davis in the foregoing letter* 
His statements respecting the same are entirely correct. 

CHAS. C. BEMIS, 

U. S. Inspector Boilers. 

This test showed a consumption of 53 lbs of coal in 
the manufacture of a barrel of flour, which is a splendid 
result, when we consider that the samples tried were 
croppings taken from the surface, and that the furnaces 
of the Golden Gate Mills have perforated sheets for 
burning screenings instead of grates, which the Alaska 
Coal requires for economical consumption. 



IO 


Letter from William Hall, Foreman of the Forge De¬ 
partment, Pacific Polling Mills, to Mr. J. T. Dougine, the 
Mining Engineer who examined and reported on the Com¬ 
pany’s Mines t 


San Francisco, July 29, 1871. 

Mr. J. T. Dougine —Dear Sir :—The sample of Alaska Coal 
you brought here for me to test was evidently croppings, and 
being such, it is the best I ever saw. When I first started the 
business of working old iron in this City, I tried every brand 
of coal discovered on this Coast; none of it would answer my 
purpose. 

I believe that when you get in on your coal it will be equal 
to any of the Sydney Coal. Your coal burns well, with an ex¬ 
traordinary amount of flame It is free from sulphur, and 
leaves no slag or clinker, and very little ashes. I have seen 
nothing on this coast that bids as fair to become as valuable 
a coal for working iron. 

■ I brought a sack of your coal to my house, and burned a 
part in my grate, and some in my stove. It gave entire satis- 
action; it burns clear and bright, free from soot, and produces 
very little smoke. 

The ashes are very light, and a very small percentage. I 
did not weigh them, but should judge there is about 5 per cent. 

WILLIAM HALL, 

Foreman Forge Department, Pacific Rolling Mill. 


Letter of J. Y. Cornwell, Foreman Pacific Polling Mill. 

, San Francisco, July 31, 1871. 

Mr. J. T. Dougine — Sir: I have tried the sample of coal, 
(Alaska) you sent me, and find that it works well in my stove; 
in fact, better than any of the other coals that belong to this 
Coast. It is free from clinkers or cinders, and has scarcely 
any or no soot. I think it could be made to w T ork iron well, 
with a little experimenting from what I have seen of it. 

Very respectfully yours, 

J. Y. CORNWELL, Foreman Pacific Rolling Mill. 



Letter from G. W. Fogg, Esq., Superintendent of the Pacific 
Foundry: 

San Francisco, August 8, 1871. 

J. T. Dougine, Esq— Dear Sir: The sack of Alaska Coal that 
you sent me, as the croppings of your mine, I have burned 
in my stove and in my grate, and paid particular attention to 
it, and find it to be a superior coal for domestic use, more so 
than any other coal produced on this Coast. 

When I speak this, I speak knowingly. In my position as 
Superintendent of the Pacific Foundry and Machine Works, 
I have had experience with every brand of coal produced on 
this coast, and as yet there has not been any introduced that 
will answer for working iron in either Forge or Furnace. 
Your coal is free from sulphur, and produces very little ashes, 
burns with a bright clear flame, and makes little or no smoke. 
When you get a hundred feet or so from the surface I think your 
coal will improve, and be found very valuable for working 
wrought iron. As a domestic coal, it has no equal on this 
coast. 

Yours truly, 

G. W. FOGG. 


Among several well-known citizens who have tried this 
coal in their parlor grates and cooking ranges, and who cer¬ 
tify to its superior excellence, are the following: 

L. B. Benchley, Esq., W. A. Aldrich, Esq. 

Genl. M. D. L. Simpson, E. F. Northam. 

Claus Spreckels, Esq. E. E. Rice. 


Report of J. T. Dougine, Esq., Mining Engineer, who visit¬ 
ed and examined the Company’s Mines. 

To President Alaska Coal Company— Sir: As per agreement 
I visited the Coal Mines of the Company which are situated 
on one of the islands belonging to Alaska. Our vessel arrived 
in Coal Harbor, where the veins are situated, on the 24th of 
April last. 

The Bay is five miles in length, and about two miles in 
width. It has deep water at the entrance, as well as inside. 
At a distance of 250 feet from high water, there is 20 feet of 
water at low tide, which rapidly deepens to 5 fathoms. 

The Bay is land-locked, well protected and sheltered. 

The coal veins are situated 800 feet from the high-water 




line of the shore. The height of the mountain in which the 
coal veins are situated is 680 feet perpendicular; the forma¬ 
tion is sandstone. 

About 880 feet below the top of the bluff is a splendid 
and well-defined vein of coal, 9 feet in thickness; on the foot 
#all is four feet of hard fire clay, resembling the Storbridge 
clay of England. Beneath this stratum of clay is another 
vein of coal, 4J feet thick, of superior quality. 

At a distance of 240 feet below, is another vein, 6 feet thick, 
and 13 feet lower is another vein, 5 feet in thickness. The 
latter vein is about 20 feet above high-water mark. The coal 
in all the veins is nearly alike; in fact I could discover no 
difference. We took out about 13 tons, and brought it to 
San Francisco. It was taken from all the veins, and is the coal 
which was tested at the “ Golden Gate Mills,” and other places 
in this City. The two upper veins are very prominent; they can 
be seen from the harbor for a long distance, cropping out 
like a huge black wall. Nature has prospected those two 
veins for five miles; they show an even and uniforn thickness 
the entire distance. We ran a small drift 16 feet in the nine 
foot vein from which we took ten tons; the other three veins, 
we faced down, and took samples from each. 

The veins possess great natural advantages for working at 
small cost. The construction of a tramway, 800 feet long, and 
and a wharf, 300 feet long, are the principal improvements 
necessary. Hoisting and pumping works will never be re¬ 
quired; the veins have a pitch to the west into the mountain, 
of two inches to the yard. I have a plan for working these 
mines by means of tunnels, for drainage and outlet for the 
coal, and air-shafts for ventilation, that can be constructed at 
small cost, which will expose millions of tons of coal. The 
veins are regular and of uniform thickness. The harbor in 
winter is free from ice, and snow seldom remains long on 
the low lands. 

There is abundance of grass of very superior quality, cover¬ 
ing the low lands and hills of the island. Cranberries are 
found in great profusion in the vicinity. The lands will pro¬ 
duce potatoes, barley, oats and rye. At the south end of the 
harbor, there are three fresh-water streams emptying, which 
are famous for salmon. The “Alieuts” come from the neigh¬ 
boring islands to this place for their winter supply of fish. 

Alieut laborers, hardy and intelligent, can be obtained, if 
required, at low wages. 

I regard it, in all respects, the most promising coal-field 
I have seen on this Coast. 

J. T. DOUGINE, 
Mining Engineer. 

San Francisco, Sept. 26, 1871. 


J 3 


The foregoing is the report of the Engineer, sent 
from San Francisco to examine the Mines. Mr W. Howe, 
a practical coal miner from Mount Diablo Mines, who 
has had forty years experience in the coal mines of 
England, Pennsylvania and the Pacific Coast, was sent 
up to examine the mines with regard to the practica¬ 
bility of working them, and the character of the veins. 
Mr. Howe returned to San Francisco in June last, and 
reported to Messrs- Hoyt & Sears, two of the Trustees 
of the Company, as follows: 


Letter of Mr. W. Howe. 

San Francisco, June 8, 1871. 

Messrs, Hoyt & Sears : 

Gentlemen—I have examined your Coal Mine in Alaska, 
and find it situated on an Island on the shore of a good bay 
for shipping the Coal. 

The Coal crops out, four or five miles in length, along the 
face of the mountain and can be mined to advantage. 

In addition to the veins from which we took the coal (sam¬ 
ples of coal brought to San Francisco,) there are three or 
four veins that crop out about 20 feet above high tide, that 
look to be equally as good as the others, but we did not do 
much work on them. The vein that we took the coal from 
is on the side of the mountain, about 280 feet high. 

Our drift that we took the coal from is only about 16 feet 
under cover, and it is more than one-half pure coal; already 
it is better than 4J feet thick. There is another vein of coal 
on the top of the clay (which clay is about 4J feet thick) nine 
feet thick, which looks fully as well as the one underneath; we 
had time to do butlittle work on it. The coal is of good quality, 
and,will get more combined and pure as it penetrates the moun¬ 
tains and gets more co ver on it, as all other veins do that I 
have ever seen. 

The coal dips westerly, about one inch to the foot. 

W. HOWE. 


The following letter from an employe of the Company, who 
has just arrived from the Mine, relates to the discovery of 
another vein of coal at the Company’a Mines : 



4 

San Francisco Sept. 19, 1871. 
W. A. Aldrich, Esq., President Alaska Coal Co. 

Sir—I have to report that I left the Company’s 
Mines at Coal Harbor, on the 16tli of this month, and was 11 
days on the passage to San Francisco. I have been employed 
at the mines since the 6th of July last. In addition to the 
mines which were opened last Spring, and examined by 
Messrs. Dougine and Howe, we have opened a new mine, dis¬ 
covered by iis about the middle of July. It is situated about 
150 feet above high-water mark, and 150 feet back from the 
water’s edge. 

The vein is three feet in thickness, solid coal, very hard, 
bright and glossy, better than the best samples before shipped 
to San Francisco. We have traced the mine three hun¬ 
dred feet along the face of the mountain and taken out about 
fifty tons. This vein is favorabty situated for working. Sev¬ 
eral fishing schooners called there during my stay, and coaled. 
The weather when I left, was as fine as it is now in San Fran¬ 
cisco. All well at the mine. 

Yours Respectfully, 

DANIEL WUELLER. 



The island is hilly and mountainous, with low lands 
along the inlets, rivers and bays. 

The scenery is pleasant. The hills are covered, in 
summer, with luxuriant grass, affording fine pasturage, 
well adapted to grazing sheep and cattle. There are 
three fine fresh-water streams that discharge their 
waters into Coal Harbor. These streams are noted 
salmon-runs. (See report of Mr Dougine). The har¬ 
bor is also noted for its fine cod-fish, halibut and other 
fish common to Northern waters. There are also liv¬ 
ing springs, furnishing abundance of pure water near 
the Company’s houses, and convenient to the point 
where it is proposed to erect the wharf. Potatoes 
and other vegetables can be raised there, sufficient for 
local consumption. 





15 


CL] MATE. 

The popular idea respecting the rigor of the climate 
of this portion of Alaska is very erroneous. The 
comparative climate of the coast along' the peninsula 
and the contiguous islands, is of nearly equal temper¬ 
ature with the Atlantic coast of New England. The 
meteorological observations, taken for a series of years 
at Sitka, show a mean winter temperature the same as 
Philadelphia, but a mean yearly temperature the same 
as Portland, Maine, the thermometer notrisingso high 
in summer nor falling so low in winter. The location 
of these mines is farther South than Sitka, with a cli¬ 
mate equally mild. 

The explanation of the comparatively mild temper¬ 
ature of this portion of Alaska, notwithstanding its 
high latitude, is found in certain well-known geograph¬ 
ical facts. 

The latitude of Coal Harbor, 55° 24', is about the 
same as that of the Southern boundary of Scotland, 
farther South than the North of Ireland, and over a 
degree South of the latitude of Edinburgh. The por¬ 
tion of Scotland analagous in latitude to the Peninsula 
of Alaska and the Aleutian Islands, supports a dense 
population, and a civilization equal to that of more 
Southern climes ; in fact, it has been the home of a 
hardy enterprise that has extended its influence 
throughout the world, and impressed itself upon lands 
situated in more favored zones. 

It may be said that the climate of Scotland is modi¬ 
fied by theinfluen.ee of the Gulf Stream, which gives it 
a climate natural to a lower latitude. Granted that 
such is the case, the Aleutian Archipelago is blessed 
with a like influence from the great Japan current of 
warm equatorial waters. The Pacific Gulf Stream is 


as strongly marked as the Atlantic current. It flows 
through the China Sea, past the island of Niphon, and, 
trending to the Northeast, crosses the Pacific to the 
American coast, midway between Vancouver’s Island 
and Sitka, and flows thence Northward and Westward, 
along the shores of the Alaska main. 

A branch of this great oceanic current—the Kam- 
schatka current—flows Northwardly along the Asiatic 
coast, through Behring Straits, the narrowness of which 
prevents strong reactionary currents from the frozen 
regions of the North ; hence, the Southern shores of 
Alaska get the full benefit of the warm Japan current, 
without perceptible abatement. These facts show, 
by analogy, that the rigor of the climate of this por¬ 
tion of Alaska ought not to be greater than that of 
Southern Scotland. The meterological observations 
of the Russian authorities, for a long period, de¬ 
monstrate that such is the case—in fact, that the 
Northern deflection of the isothermal lines is fully 
equal to that of the European coast, if not greater. 

The experience of mariners, fur-traders and Govern¬ 
ment officers, who have spent years in that country, 
has confirmed the deductions of science, and demon¬ 
strated that this portion of Alaska, so far as climate is 
concerned, is fitted for a population equal in density to 
that of the most settled portions of Scotland. 

Most of the fur-bearing animals of the country are 
plentiful on the island and the mainland, which is only 
two miles distant. Ducks, geese and other water-fowl 
are found in vast numbers in all the surrounding wa¬ 
ters. Grouse are abundant on the uplands. 





1 7 


COST OF COAL 

As soon as facilities are established for handling the 
coal at the mine, it can be mined and delivered in 
San Francisco at a cost of from $5.50 to $6.00 per 
ton, with transportation at the present rates. No 
doubt a material reduction can eventually be made on 
those figures. This will leave a large margin of profit, 
as the quality of the coal is such that it will always 
command a good price in the market. 


VALUE OE COAL MINES. 

t 

The value of accessible coal mines on this coast, 
producing a good quality of coal, that can be economi¬ 
cally handled and marketed, cannot be over-estimated; 
especially a mine like this, producing a superior coal 
that will supply the place of many imported kinds. 

'The large and constantly increasing consumption of 
coal on the Pacific coast, which will be greatly ex¬ 
tended as our manufactures increase and the country 
becomes populous, will always keep a demand equal 
to the supply ; consequently, there is no investment of 
capital that can be made that will be more likely to 
be permanently and uniformly profitable than in an 
accessible coal mine, like the mine of this Company, 
which shows a vast measure of coal that cannot be 
exhausted .in a generation. 


NO ASSESSMENT. 

in order to avoid the necessity of levying assess¬ 
ments for the expense of opening the mine, building 




NOV 9 1900 


18 

a tramway and wharf, the Company has set aside 10,000 
shares of its capital stock to be sold for working 
capital. The proceeds of sale of this stock, it is esti¬ 
mated, will be sufficient for that purpose, thereby prac¬ 
tically making the stock unassessable. No assessments 
will be levied, unless it shall become necessary, after 
exhausting the proceeds of the sale of the stock 
reserved for working capital, a contingency which is 
not anticipated. The Directors and Officers of this 
Company are men whose connection with large and 
successful operations on this coast, is a guaranty of the 
successful and energetic management of this enter¬ 
prise- 

A portion of the stock reserved for working capital 
is now offered for sale by the Company, at prices 
which make it an attractive investment. 

As the amount offered is limited, and presents the 
only opportunity that will be afforded to obtain an 
interest in this promising enterprise on original terms, 
those who desire to avail themselves of it will do well 
to apply at the Company’s Office without delay. Room 
68, Merchants' Exchange, California street, San Fran¬ 
cisco, where maps, plans and samples of the coal, and 
full information on the subject can be obtained. 

San Francisco, October 2nd, 1871. 















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